Stanford Receiver Loses $88M Clawback Bid

Law360, New York (September 15, 2017, 3:46 PM EDT) -- A Texas federal judge shut down a post-verdict attempt to revive an $88 million clawback suit linked to the $7 billion Stanford Ponzi scheme on Thursday, saying there's no justification for questioning the jury's finding that no payback was required.

In the wake of its collapse, receiver Ralph Janvey sought to take back $88 million in loans that Colorado billionaire Gary Magness got out of R. Allen Stanford's infamous scheme. But a jury found in January that the transfers were made in good faith, meaning Magness and...
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Case Information

Case Title

Janvey v. GMAG LLC et al

Case Number



Texas Northern

Nature of Suit

Other Statutes: Securities/Commodities/Exchange


David C Godbey

Date Filed

February 6, 2015

Law Firms

Government Agencies

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